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Company Information

Home » Market » Company Information

Shriram Asset Management Company Ltd.

Dec 13
156.90 +7.45 (+ 4.98 %)
 
VOLUME : 3037
Prev. Close 149.45
Open Price 156.90
TODAY'S LOW / HIGH
142.00
 
 
 
156.90
Bid PRICE (QTY.) 0.00 (0)
Offer PRICE (Qty.) 0.00 (0)
52 WK LOW / HIGH
49.50
 
 
 
156.90
Shriram Asset Management Company Ltd. is not traded in NSE
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Market Cap. ( ₹ ) 94.14 Cr. P/BV 29.40 Book Value ( ₹ ) 5.34
52 Week High/Low ( ₹ ) 157/50 FV/ML 10/1 P/E(X) 0.00
Bookclosure 07/08/2018 TTM EPS ( ₹ ) -3.08 Div Yield (%) 0.00
NOTES TO ACCOUNTS
You can view the entire text of Notes to accounts of the company for the latest year
Year End :2017-03 

1. Terms/rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to one vote per share. Dividend, as and when recommended by the Board of Directors, is subject to approval of the shareholders in their Annual General Meeting. The Directors have not recommended any dividend for the year ended March 31, 2017.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Terms/rights attached to Redeemable Non Convertible Preference Shares (RNCPS)

During the financial year 2015-16 the Company issued additional 1000000 (Ten lakh) (0.01%) RNCPS of Rs. 100/- each fully paid up, over and above 400000 (Four lakh) issued in earlier Financial Years, taking the total amount of RNCPS to Rs. 14,00,00,000/- These RNCPS carry non cumulative dividend @ 0.01% p.a. Each holder of RNCPS is entitled to one vote per share only on resolutions placed before the Company which directly affect the rights attached to RNCPS. The RNCPS shall be redeemed by the Company at par on expiry of five years/ten years from the date of allotment /issue of Preference Shares as per norms attached with the issue. The Company shall, however, has the right to redeem the RNCPS before the due date. Subject to the applicable laws, and the approvals/consents as may be necessary or required, the date of redemption of RNCPS can be extended for such further term as may be mutually agreed to between the Company and the holder of RNCPS. During the period no provision has been made for dividend on Preference Shares.

3. An amount of Rs. 22,785,000/- representing disputed redemption money on 35,00,000 units of “Risk Guardian 95” is held by the Company in trust to be paid to the rightful owner when the dispute is settled by the appropriate court/forum. This amount has been deployed in subordinated bond and along with interest accrued thereon, the present value of which is Rs. 10,53,34,730/- (inclusive of tax of Rs. 11,122,842/- for the period from 2001-02 to 2010-11). The disputed amount of Rs. 22,785,000/- along with interest accrued thereon has been recognized in the accounts as payable to the rightful owner.

4. In terms of decision by the Operations Committee as delegated to it by Board, Mutual Fund Expenses of Rs. 43.44 Lakhs representing total expenditure absorbed during current year against Rs. 53.88 Lakhs of previous year. The overall revenue from operation amounted to Rs. 86.42 Lakhs from Rs. 76.95 Lakhs of previous year. Such accounting has the effect of decreasing the loss for the year by Rs. 19.91 Lakhs over the previous year.

5. The Scheme Risk GuardianRs.95 has been wound up, effective 7th July 2000 and the three tax saving schemes Tax GuardianRs.95, Tax GuardianRs.96, Tax GuardianRs.97 have been wound up with effect from 30th April 2001 and Interval Fund 97 with effect from 1st December 2001, with the approval of SEBI. For the unclaimed redemption money of these schemes the company has been following the provisions laid down under Regulation 59 of SEBI (Mutual Funds) Regulations, 1996. Further, as the unclaimed redemption money being managed by the Company is very small amounting to Rs. 367,888/-, it has been decided not to charge asset management fees from 01.04.2004 to Shriram Mutual Fund with regard to the old schemes mentioned above.

6. Contingent Liabilities not provided for:

The Company received an order dated 26.03.15 from CIT(A) for A.Y. 2010-11, in which the decision of the A.O to treat interest income of Rs. 1,15,19,591/- as income from other sources was determined instead of the head business. The company being aggrieved has filed an appeal with ITAT against the said order on 23.06.2015 which is pending disposal.

The Company received an Order dated 10.03.2013 U/S 143 (3) of the IT Act for the assessment year 2010 -11 along with a demand notice of Rs. 21,59,460/- and paid Rs. 2,00,000/- on protest towards the demand which is pending disposal. The Company has already filed an appeal with the CIT(A) against the order.

7. As regards A.Y. 2007-08, the Company has received a favourable order from ITAT allowing bad debts amounting to Rs. 27,10,000/- in respect of dues from Ahmedabad Urban Co-operative Bank Ltd., which was previously disallowed by CIT (A). There will be a refund due to the Company if the order giving effect to the decision of the ITAT is issued which is awaited.

8. In view of the loss incurred during the period, no provision for Income Tax is considered necessary.

9. The Company operates in only one segment. Hence segment reporting under AS17 is not applicable to the Company.

10. Related party disclosure as required by Accounting Standard (AS)-18 “Related Party Disclosure” as notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 2013.

11. The Company does not have ‘suppliers' registered under the Micro, Small and Medium Enterprises Development (“MSMED”) Act, 2006. Accordingly, no disclosure relating to amounts unpaid as at the year end, together with interest paid / payable are required to be furnished.

12. No dividend is proposed on 14,00,000 (Fourteen Lakhs) (0.01%) RNCPS of Rs. 100/-each fully paid up in view of loss incurred by the Company.

13. Previous year's figures have been re-grouped and re-arranged, wherever considered necessary.